Maple Finance's COO follows co-founder Joe Flanagan out over strategy, as Flanagan's duties pass to CEO Sid Powell

Maple Finance, the on-chain asset manager, is losing two of its top executives in the same week. Chief operating officer Ryan O'Shea said on X on Thursday that he is leaving after nearly five years because he now sees the direction Maple should take differently, Cointelegraph reported. His last day is November 27.

A day earlier, co-founder and executive chairman Joe Flanagan announced his own departure after seven years, describing a growing divide with co-founder and CEO Sid Powell. Flanagan wrote: "Over time, our views on strategy, leadership, and life have moved further apart." He will help with the handover through the end of 2026.

Maple described Flanagan's exit as an agreed and orderly transition, with Flanagan's responsibilities moving to Powell and the existing leadership team, and it has not named a new chairman. Powell said he respected their decisions and remains committed to leading the team, PANews reported, and Maple said it plans to increase investment in on-chain credit, yield products and tokenized collateral.

Cointelegraph reported third-quarter revenue of $4.4 million, up 5% from a year earlier, and assets under management of $4.7 billion. Maple's SYRUP token traded at $0.12 late on Thursday, UTC, down 7.5% in 24 hours, according to CoinGecko data cited by Cointelegraph, which put its loss this year at 62%.